## Local Home Sales Prices Continue to Surge

**2015 Second Quarter Local Real Estate Zip Code Report**

**By Sherri Pickard, GRI, CDPE, CSSS, SFR, MBA**

2015 President, Wilmington Regional Association of Realtors (WRAR)

WILMINGTON, N.C. (July 20, 2015) – When analyzing eleven major zip codes in our region – 28401, 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes shows for second quarter of 2015:

- Our average sales price has
**increased by 3.7%**from first quarter of 2015. - Of the 1,630 sellers in second quarter of 2015, 38.2% paid some sort of concession toward the purchase of the house.

- Our list to sales price ratio for second quarter is 96.71%, a decrease from 96.92% for first quarter of 2015.
- The average list price of the sold properties is $276,273 and is
**up 3.9%**from first quarter of 2015. - The average number of days a property remained on the market for the second quarter was 103 days, compared to 116 days for first quarter of 2015.
- The median sold price of $218,000 for second quarter of 2015 has
**increased 6.3%**from first quarter of 2015.

The areas of focus in this analysis were:

**Selling Price**– The price the seller accepts for his or her house.**Sellers Concessions**– The amount of money a seller of a house contributes toward the buyers purchase.**List to Sales Price Ratio**– The difference between the list price and the selling price shown as a percentage.**Days on Market**– The number of days a house remains for sale, from the listing date to the date the property is placed under contract.**List Price**– The amount of money a home is listed on the market.**Median Price**– The middle price of all the properties sold in the given time period.

**28401**

- The average selling price of $140,019 has increased 20.6% from first quarter of 2015 average selling price of $116,121.
- 29% of sellers paid a concession in second quarter of 2015, compared to 16% for first quarter of 2015.
- The average list price of $149,937 has increased 21.3% from first quarter of 2015 average list price of $123,601.
- The average number of days a property remained on the market for second quarter was 141 days, compared to 145 days for first quarter of 2015.
- The median sold price of $106,000 for second quarter has increased 34.2% from first quarter of 2015.
**The best of all zip codes.** - Sold homes in second quarter of 2015 received 93.39% of the asking price, a decrease from 93.95% for first quarter of 2015.

**28403**

- The average selling price of $249,187 has increased 18.6% from first quarter of 2015 average selling price of $210,133.
- 34% of sellers paid a concession in second quarter of 2015, compared to 23% for first quarter of 2015.
- The average list price of $260,411 has increased 18.5% from first quarter of 2015 average list price of $219,831.
- The average number of days a property remained on the market for second quarter was 116 days, compared to 122 days for first quarter 2015.
- The median sold price of $180,000 for second quarter has increased 9.8% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 95.69% of the asking price, an increase from 95.59% for first quarter 2015.

**28405**

- The average selling price of $290,861 has increased .6% from first quarter of 2015 average selling price of $289,043.
- 32% of sellers in second quarter paid a concession, compared to 37% for first quarter of 2015.
- The average list price of $302,056 for second quarter of 2015 has decreased .4% from first quarter of 2015 average list price of $303,164.
- The average number of days a property remained on the market for second quarter of 2015 was 84 days, compared to 119 days for first quarter of 2015.
- The median sold price of $187,125 for second quarter of 2015 has increased 9.9% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 96.29% of the asking price, an increase from 95.34% for first quarter of 2015.

**28409**

- The average selling price of $305,731 has increased 5.9% from first quarter of 2015 average selling price of $288,816.
- 42% of sellers in second quarter of 2015 paid a concession, compared to 49% for first quarter of 2015.
- The average list price of $313,347 for second quarter of 2015 has increased 6.1% over first quarter of 2015 average list price of $295,314.
- The average number of days a property remained on the market for second quarter of 2015 was 89 days, compared to 96 days for first quarter of 2015.
- The median sold price of $267,250 for second quarter of 2015 has increased 6.9% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 97.57% of the asking price, a decrease from 97.80% from first quarter of 2015.

**28411**

- The average selling price of $322,705 has increased 4.0% from first quarter of 2015 average selling price of $310,233.
- 48% of sellers in second quarter of 2015 paid a concession, compared to 46% in first quarter of 2015.
- The average list price of $333,402 for second quarter of 2015 has increased 3.8% over first quarter of 2015 average list price of $321,265.
- The average number of days a property remained on the market for second quarter of 2015 was 82 days, compared to 99 days for first quarter of 2015.
- The median sold price of $243,818 for second quarter of 2015 has increased by 6.0% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 96.79% of the asking price, an increase from 96.57% for first quarter of 2015.

**28412**

- The average selling price of $188,530 has decreased 5.5% over first quarter of 2015 average selling price of $199,401.
- 43% of sellers in second quarter of 2015 paid a concession, compared to 40% for first quarter of 2015.
- The average list price of $192,135 for second quarter of 2015 has decreased 6.4% over first quarter of 2015 average list price of $205,283.
- The average number of days a property remained on the market for second quarter of 2015 was 69 days, compared to 90 days for first quarter of 2015.
**The best of all zip codes.** - The median sold price of $175,000 for second quarter of 2015 has increased 4.3% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 98.12% of the asking price, an increase from 97.13% for first quarter of 2015.

**28451**

- The average selling price of $216,063 has decreased 1.4% from first quarter of 2015 average selling price of $219,108.
- 32% of sellers in second quarter of 2015 paid a concession, compared to 37% for first quarter of 2015.
- The average list price of $219,776 for second quarter of 2015 has decreased .90% over first quarter of 2015 average list price of $221,666.
- The average number of days a property remained on the market for second quarter of 2015 was 119 days, compared to 126 days for first quarter of 2015.
- The median sold price of $192,000 for second quarter of 2015 has decreased 2.0% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 98.31% of the asking price, a decrease from 98.85% for first quarter of 2015.

**28480**

- The average selling price of $765,439 has decreased 6.8% from first quarter of 2015 average selling price of $820,968.
- 9% of sellers in second quarter of 2015 paid a concession, compared to 5% in first quarter of 2015.
**The best of all zip codes.** - The average list price of $848,005 for second quarter of 2015 has decreased .40% over first quarter of 2015 average list price of $851,284.
- The average number of days a property remained on the market for second quarter of 2015 was 174 days, compared to 193 days for first quarter of 2015.
- The median sold price of $669,975 for second quarter of 2015 has increased 10% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 90.26% of the asking price, a decrease from 96.4% for first quarter of 2015.

**28428**

- The average selling price of $260,121 has increased .30% from second quarter of 2015 average selling price of $259,326.
- 30% of sellers in second quarter of 2015 paid a concession, compared to 25% for first quarter of 2015.
- The average list price of $270,584 for second quarter of 2015 has decreased .80% over first quarter of 2015 average list price of $272,857.
- The average number of days a property remained on the market for second quarter of 2015 was 139 days, compared to 173 days for first quarter of 2015.
- The median sold price of $244,500 for second quarter of 2015 has increased 7.5% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 96.13% of the asking price, an increase from 95.04% for first quarter of 2015.

**28449**

- The average selling price of $412,957 has increased 26.1% over second quarter of 2015 average selling price of $327,563.
**The best of all zip codes.** - 13% of sellers in second quarter of 2015 paid a concession, compared to 20% for first quarter of 2015.
- The average list price of $436,036 for second quarter of 2015 has increased 26.2% over first quarter of 2015 average list price of $345,620.
**The best of all zip codes.** - The average number of days a property remained on the market for second quarter of 2015 was 164 days, compared to 142 days for first quarter of 2015.
- The median sold price of $346,250 for second quarter of 2015 has increased 28.2% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 94.71% of the asking price, a decrease from 94.78% for first quarter of 2015.

**28443**

- The average selling price of $262,972 has increased 9.5% over second quarter of 2015 average selling price of $240,059.
- 49% of sellers in second quarter of 2015 paid a concession, compared to 45% for first quarter of 2015.
- The average list price of $267,467 for second quarter of 2015 has increased 10.7% over first quarter of 2015 average list price of $241,645.
- The average number of days a property remained on the market for second quarter of 2015 was 134 days, compared to 115 days for first quarter of 2015.
- The median sold price of $251,900 for second quarter of 2015 has increased 6.1% from first quarter of 2015.
- Sold homes in second quarter of 2015 received 98.32% of the asking price, a decrease from 99.34% for first quarter of 2015.
**The best of all zip codes.**

Eight out of eleven zip codes reported an increase in the average sales price and had a List to Sales price ratio above 95%. Clients are receiving closer to their asking price, which indicates that the real estate market is progressively improving. Contact a Realtor today to learn more about the opportunities in your specific market area!

*An Analysis of information from the Wilmington Regional Association of Realtors Incorporated, for the period Jan. 1, 2005 through June 30, 2015 – data pulled on July 12, 2015.*